Albany - NY, Sept. 21, 2016 (GLOBE NEWSWIRE) -- The 56-page report offers an exhaustive overview of the global cloud-based value-added services (VAS) market, focusing on the key growth factors and challenges. The geographical segmentation, product segmentation, and the competitive landscape have been included in the research report to provide a complete picture of the overall market.
As per the market study, the global market for cloud-based value-added services is anticipated to register a 14% CAGR from 2016 to 2020. The preferential shift from on-premise to cloud-based value-added services is one of the prime factors estimated to bolster the global market in the forecast period. The potential opportunities and trends in the global cloud-based VAS market have been highlighted in the research study.
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The growing demand for location-based mobile value-added services and the rising adoption of m-commerce are the key factors bolstering the global cloud-based VAS market. Moreover, the rising implementation of IM MVAS applications across the globe is expected to create several opportunities for key players in the next few years. However, the low quality of wireless networks and rising concerns regarding security and privacy are projected to curtail the growth of the market in the near future.
The global cloud-based value-added services market has been categorized on the basis of geography into APAC, EMEA, and the Americas. As per the research study, the Americas are expected to lead the global cloud-based VAS market and account for a 40% share by the end of 2020. This region is expected to witness robust growth in the next few years, thanks to considerable revenue contribution from the U.S. Moreover, the extensive coverage of mobile broadband services and the rising penetration of smartphones are the primary factors estimated to augment the growth of the market in the near future.
Furthermore, the availability of high-speed mobile technology and favorable government regulations are projected to propel the South America cloud-based VAS market in the next few years. Moreover, the clustering of mobile value-added services with handset and mobile services are expected to drive the market in the coming years.
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The leading players operating in the worldwide cloud-based value-added services market include IBM, Infosys, Ericsson, Huawei, and Cisco. Some of the other key players included in the research study are Ethrix, CALLUP, Gintel AS, and OCSBOX. The presence of a large number of established players in the cloud-based VAS market has resulted in a strong competition among market players. The competitive scenario of the global cloud-based VAS market is projected to become intense with the participation of several small, medium, and large-scale providers in the next few years. The leading players in the market are emphasizing on improving the functionality and leveraging cost improvements in order to gain a competitive advantage and expand their presence across the globe.
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